Title Issues.

Assignments, reconveyances and title issues are a constant challenge for mortgage servicers. They must check to make sure title and lien records are accurate, make changes on a timely basis when loans change hands or pay off, and be mindful of different rules and deadlines in each state. Whether boarding new loans or recording payoffs of old ones, servicers are always in a race against time as deadlines for recording loom.

If you think making those deadlines is no big deal, just think about some of the servicers in years past who faced class-action lawsuits as a result of an alleged failure to record releases on time. Lien release issues are not in the spotlight today, but that doesn't mean aggressive attorneys won't exploit this issue again in the future.

Fortunately, technology is able to help lenders manage title issues more efficiently than in the past. While the nation's 3,500-plus recording jurisdictions, mostly county governments, continue to have a panoply ...